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December 2014

Press Note No. 9 – DIPP File No. 9(8)/2014-IL(IP) dated 20th October, 2014

By Gaurang Gandhi Chartered Accountant
Reading Time 1 mins
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Press Note No. 9 – DIPP File No. 9(8)/2014-IL(IP) dated 20th October, 2014

Streamlining the procedures for grant of Industrial Licences

This Press Note contains 3 clauses which modify the existing preocedures as under: –

1. Increasing the validity of the Industrial Licence
This Press Note, in supersession of Press Note No. 5 (2014 Series) dated 2nd July, 2014, provides for 2 extensions of 2 years each in the initial validity of 3 years of the Industrial Licence.

2. Removal of stipulation of annual capacity in the Industrial Licence
Annual capacity for defense items for Industrial Licence has been de-regulated. The Licencee now has to submit half-yearly production returns to the DIPP & Department of Defence Production, Ministry of Defence in the proscribed format.

3. Sale of Defence items to Government entities without approval of Ministry of Defence
Licensee’s are allowed to sell Defence items to Government entities under the control of Ministry of Home Affairs, State Governments, Public Sector Undertakings and other valid Defence Licenced Companies without prior approval of the Department of Defence Production. Sales to others will require prior approval of the Department of Defence Production.

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